Do you think that gas prices will ever get back to $2.50 a gallon? If so when and how?

Question

I not, where will the skyrocketing end?

Answer 1

I wouldn't hold your breath .... oil prices are going to stay high ... and today the price of a barrel of oil hit $126 in New York - a record.

The Chinese and the Indians are getting into motoring in a big way and are forcing demand way up .......

And every time the price of oil looks like it may fall the Saudis cut back on production to force it up again (and you Americans think they are your friends in the Middle East !).

Still - console yourself with the fact that you are not living here in the UK - we are now paying over $2.50 a LITRE .... about $10 dollars a US gallon. Of course our greedy government takes around $6 of that in tax.

Another frightening fact .... my heating oil cost 16p (UK .. about 40 cents) a litre 4 years ago and now costs 60p ... well you do the math. Nearly quadrupled in 4 years. And our government tells us that inflation is running at 2.5% - incredible !

When will it fall ...... when you become an Islamic Republic !

Answer 2

When Hillary Clinton is elected for president.

On a more serious note, there are other countries such as India and China that are dying to get their hands on more oil. The price for oil and therefore gasoline won't go down unless supply significantly increases or the dollar gains strength. I doubt either will happen.

Answer 3

Simple answer...

when pigs growings start flying and we can attach nuclear bombs to them and send them to iraq to fight the war for us. :D

Answer 4

Wake up, you must be dreaming. We'll never see $2.50 again, at least not in our lifetime.

Answer 5

I'm hoping once we get Bush out of office the cost of gas will go way down.  : )

Answer 6

It wont.  It, like so many other things, it fall into a inflationary trend.  Year after year, it will slowly rise.  The question is, will you make enough to compensate for the inflation?

Answer 7

Yes, in the 2 half of the year 2011, the crude oil market will free fall, meaning the supply will overtake world demand.

I project in Sept, 2011 crude will fall to about $75 a barrel and the the U.S. gas price will be around $2.50 gal

Answer 8

when the demand drops for oil...remember those large gas guzzler cars from the seventies, we gave up on them when gas saving smaller cars became comfortable for most of us and by the time the late ninetys came around the cars trucks began getting larger and fuel economy was not an issue anymore and in just a decade here we are starving to fuel this era of vehicles...big suv drivers will get the message that a smaller suv will do the same job...drive home the point that only morons waste fuel

Answer 9

Hello. I doubt it will, as the depth being 'dug' to reach the oil is more and more, difficult to reach. Our wish is more difficult, now.